$83,127,600 In Secured Assets | $47,190,535 In Funded Loans
The borrower used the funds for another investment.
Exit Strategy is to use finalize and structure additional investment and then refinance with the mainstream lender at the prevailing rate.
1 Family Oyster Bay
Borrower is a seasoned investor with multiple existing and past projects. Acquired this 6,200 square foot brick Mansion to renovate and sell to a discreet Gold Coast buyer. This loan was closed in 8 days.
1 Family Greenwich
The borrower is a seasoned investor using funds to rehab the property and sell it for profit.
3 Family Bed-Stuy
The Borrower was put into delinquency due to violation of subordinate financing. Bailed out from 24% payment to 7.5% for 1 Year.
2 Family Bed-Stuy
The borrower cashed out to resolve outstanding liens, violations, and fines on the property.
An exit strategy is to cure all violations and refinance with a streamlined lender.
Mixed-Use, Cambria Heights
The borrower refinanced to pay off tax liens. An exit strategy is to cure all violations and refinance with a streamlined lender.
Private School Plainfield
The borrower used funds to renovate the old YMCA building to convert into a Private School for a local religious community. Exit Strategy is to raise funds through grants, government financing as well community and patrons fundraising.
2 Family Bed-Stuy
The borrower is a seasoned investor. Used proceeds to fund another project. Exit Strategy is to refinance with the mainstream lenders at the prevailing rate.
2 Family Brooklyn
The borrower is a seasoned investor with multiple projects. The funds were used to cure all violations and renovate the property. An exit strategy is to sell the property after the full renovation is complete.
5 Family Bed-Stuy
The borrower used funds to rehab the property and flip. An Exit strategy is to renovate and sell for a higher price.
The borrower needed to bail out of default and demonstrate 12 months of current payments.
1 Family Bed Stuy
The borrower refinanced the property to renovate and keep for rental income.
An exit strategy is to establish a positive rent roll and refinance with the streamlined lenders at the prevailing rate.